HANOI - US President Joe Biden and senior executives from top American tech firms including Google and Intel will meet Vietnamese business leaders after the two countries agreed to deepen cooperation in the face of shared concerns about China.
Biden and Vietnam's ruling Communist Party chief -- the country's paramount leader -- struck a "comprehensive strategic partnership" as Washington pushes to boost its network of allies around Asia and the Pacific to counter Beijing's growing clout.
The United States sees manufacturing dynamo Vietnam as an important part of its plan to rely less on China for supplies of strategic resources, and the new pact includes agreements on semiconductors and rare earths.
Executives from tech behemoth Google, chip makers Intel and GlobalFoundries and aviation giant Boeing will join Biden and Secretary of State Antony Blinken for an "innovation and investment summit", according to a meeting agenda seen by AFP.
They will hold talks with senior figures from a host of leading Vietnamese tech and manufacturing companies including electric car maker VinFast, internet firm VNG and digital wallet Momo.
The new partnership includes an agreement on semiconductors, with the United States committing to help Vietnam develop its capabilities and expand production.
Tiny semiconductors are vital to modern life, found in every electronic device from children's toys and smartphones to electric cars and sophisticated weapon systems.
Biden moved last month to restrict US investment in Chinese technology in sensitive areas including semiconductors, quantum computing and artificial intelligence.
With Washington looking to diversify and strengthen its supply chains after a series of shocks hit the global economy, it is increasingly looking to Vietnam, which has the world's second-largest deposits of rare earths -- another strategically vital resource -- after China.
Monday will also see Vietnam Airlines sign a $10-billion deal to buy 50 medium-haul 737 MAX planes from Boeing, according to state media.